Comments on: Not too big to be accountablehttp://blog.timesunion.com/opinion/not-too-big-to-be-accountable/22370/
A blog of opinions on local, state and national issuesFri, 09 Dec 2016 15:45:53 +0000hourly1https://wordpress.org/?v=4.6.1By: Gus Wynnhttp://blog.timesunion.com/opinion/not-too-big-to-be-accountable/22370/#comment-31731
Wed, 10 Oct 2012 00:39:36 +0000http://blog.timesunion.com/opinion/?p=22370#comment-31731Jack, you are right the Bush Administration had no right to make JPM absorb Bear, but that doesn’t mean the next administration should not do it’s job – the suit is seeking justice for the injured parties.

Schneiderman is responding to a sustained, widely supported outcry that no one was held accountable for the 2008 crisis. This is the crumbs Schneiderman fought for and got from Obama who was an inch away from letting the whole thing expire.

JPM is no angel, they absorbed Bear and creamed it’s top talent, it’s clearing business, its commodities trading and posh new Madison Avenue skyscraper right, across the street from JPMorgan headquarters.

Did JPM go through the securities and make the toxic, doomed instuments soluble? No.

Did they understand they were assuming the good with the bad for the $2 a share they paid? Yes.

With no criminal liability, this will all play out in fines. If you are upset at anyone, it should be the Bush administration for failing to spot this crisis a mile away, forcing rating agencies to fake AAA ratings, hoping he could limp along till the end of his term. The crisis was the capper to a ludicrous economic policy that extracted enormous wealth to hand down to our kids as deficits.

]]>By: Jack Kellyhttp://blog.timesunion.com/opinion/not-too-big-to-be-accountable/22370/#comment-31611
Mon, 08 Oct 2012 13:04:30 +0000http://blog.timesunion.com/opinion/?p=22370#comment-31611You conveniently fail to mention in your editorial that JP Morgan did NOT want to acquire Bear Stearns. They were coerced into it by the federal government and regulators who thought that if Bear Stearns went bankrupt it could lead to a disasterous, financial domino affect. If Bear Stearns had gone bankrupt there would be no entity for our attorney general to bring suit against. So the government determines that Bear Stearns should NOT go bankrupt. The government coerces a solvent bank to make the acquisition, and now another arm of the government wants to punish that bank, the entity they originally coerced into acquiring Bear Stearns for….acquiring Bear Stearns? This is quite a twisted and far reaching government agenda you promote.
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